Really? Let's see, more or less likely to sell them if they are given 3 weeks notice to remove them from exchanges... more, or less? likely? It is a difficult one, I know.
Are you saying that it is obvious they would remove coins from the exchanges to bitcoin wallets, or obvious that they would sell every coin in their possession and remove yuan?
Is it also obvious to you how many coins are actually held by the Chinese?
A large percentage of people would sell and remove Yuan, yes. How much is anyone's guess but I think it would be hard to see a scenario in which that happened and price didn't go down.
None of us know exactly how much BTC is Chinese owned but I think we can be fairly confident that it is a not-insignificant amount.
TLDR; A large percentage of a significantly large group of bitcoin users would sell in a short timeframe.